By Mike Keerma
Stock markets edged up slightly on the week, as traders discounted the
political shenanigans in Washington and focused on economic fundamentals,
particularly in U.S. markets, where sentiment was buoyed on Friday by what
were viewed as dovish comments from Federal Reserve Board Chairman Jerome
Powell. His stated view that monetary policy should be normalized gradually
helped boost the Dow Jones Industrial Average to an intraday record high.
Nasdaq Composite Index
ended Friday with a record high close of 7,945.98, for a weekly gain of
S&P 500 Composite Index
advanced 0.9% on the week, its second straight weekly gain, also posting a
record high close of 2,874.69 on Friday. Gains in the gold and energy
sectors lifted Toronto’s
S&P/TSX Composite Index
to a 0.2% weekly gain, as
rose 1.8% on the week and
* RBC launches three new bond pools.
RBC Global Asset Management Inc.
last week debuted it RBC Fixed Income Pools. The pools are offered in
Series F and have a management fee of 0.40%. They are available to
investors through full-service investment dealers.
RBC Conservative Bond Pool
focuses on shorter-term investment-grade Canadian bonds and modest amounts
of diversified global investment-grade, high yield, emerging market debt
and emerging market currencies.
RBC Core Bond Pool
holds core global investment grade bonds and higher-yielding assets.
RBC Core Plus Bond Pool
has increased exposure to core global bonds, high yield corporate bonds,
convertibles, and emerging market currencies, corporate and sovereign debt.
According to an RBC release, each pool has a base of Canadian investment
grade bonds. Global government, corporate, high yield and emerging market
bonds are layered on to enhance yield and diversify risk. For added
diversification, each pool also holds emerging market and developed-market
currencies such as the U.S. dollar. Pools are actively managed to adapt to
current and expected market conditions.
Check Fund Library’s
Market Activity page
regularly for active updates on key market indexes and commodities.
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